Economics Unit

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Home : 2008 : February : 12

Economics Unit
By ConnieWI

When my nephew was in sixth grade, they had an economics unit. At the end of the unit, each child had to make a certain number of items to sell...food like cookies or snacks, small toys, games, etc. While making them, each
child had to keep track of the hours it took to make the item, the number of people who helped them make it, and the cost of materials. (The final item could cost no more than $1.00 per item to make.) They also had to make advertisements for their item. From this info, the teacher and child made a decision what each item would cost.

Tables were set up in the gym with the ads above

the tables and each grade was allowed to come through and purchase the items. (Only so many of my nephew's item could be sold to each grade level so that by the time the last class got there, there were still some of each item to buy. The teacher made this decision.)

Then my nephew had to reimburse his parents for the cost of the materials and pay his grandfather for his labor. Any money left over was his profit and belonged to him.

The teacher had certain days each thing was due along the way...date for what was being made, date for what the cost would be to make it, date by which all items need to be completed, date for sale, date for final project showing all the math involved.

This was a great experience for all members of the class. The math and economics concepts learned during this assignment really hit home!